Bitcoin and Ethereum Are Worth $3 Trillion Says Ark Invest

bitcoin cambrian explosion ark invest july 2020

An investment manager and an investment advisor, Ark Invest, has stated bitcoin “will be measured in trillions, more than an order of magnitude higher than its $150 billion network value today [Jan 2020].” In a report entitled big ideas, they have deep learning, electric vehicles, arial drones (and soon maybe water drones) and biotech alongside bitcoin as the next big thing for much potential investment upside. “Before the creation of bitcoin, a non-government backed monetary system seemed neither feasible nor imaginable,” they say, arguing the invention of bitcoin has led to a Cambrian explosion. Highlighting some of the qualities, they say bitcoin can be transferred and stored seamlessly, can not be diluted arbitrarily, it can’t be frozen or seized, the supply is auditable and the transactions are secure as well as immutable. As such they estimate bitcoin can take 5% of what they call Currency Demonetization, stating: “Bitcoin as a…

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